Post Closing Specialist

Basic Description:

A Post Closing Specialist maintains the workflow of post-closing and secondary marketing operations. This position handles all relationships with investors and works with them daily to ensure our mortgage loans are sold in a timely manner. They also coordinate with in-house servicing staff as needed for loans that are retained for servicing. This position works closely with our sales staff as well as underwriters, processors, closers and shippers to obtain documentation needed for loan delivery, servicing or purchase. A Post Closing Specialist is responsible for registering and transferring MERS data, processing investor purchase advice as well as obtaining guaranty certificates for government loans. They also send the required notices to borrowers and their agents to complete the loan transactions after closing.

This is an entry or intermediate-level professional with limited or no prior experience in the field. A Post Closing Specialist I will learn to resolve problems of limited scope and complexity, work on developmental assignments that are initially routine in nature and requiring limited judgement and decision making.

Responsibilities:

• Monitors the status of loans submitted to investors in order to facilitate their purchase within the timeframe to receive the negotiated price.
• Tracks and monitors all commitments with Fannie Mae and Freddie Mac to ensure timely purchase
• Receives all loan suspense correspondence from investors
• Work with the closing department, post-closing loan shippers, underwriting department and LO/LP as needed to satisfy any conditions or requested exceptions for investors prior to loan purchase.
• Prepares daily report for loan suspensions status for management
• Pulls purchase advices on a daily basis from investors and provides them to appropriate parties
• Generate and disseminate notice to borrowers for all Seller/Servicer Transfers (goodbye letters)
• Transfers all Flood Certificates, Insurance and FHA Holdings on all loans sold to other investors.
• Complete MIN Transfers in MERS once loans are purchased by investors
• Prepares loan data for boarding to the servicing system if retained and assist with any data import questions or discrepancies.
• Facilitates Ginnie Pool Processing, including simultaneous release of collateral, tracking of initial and final certifications and shipment of trailing documents
• Responds to USDA requests for information to obtain LNG
• Obtains LNG insuring documentation for USDA loans
• Obtains LGC insuring documentation for VA loans
• Enters loan level Home Mortgage Disclosure Act (HMDA) reporting information for Compliance
• Receives and reviews Trailing Documents, then scans and prepares them for delivery to the corresponding investor or document custodian.
• Monitors reports for outstanding trailing documents and works with appropriate parties to obtain them
• Follows up with appropriate parties to correct any deficiencies in final trailing documents as identified by investors
• Prepares and/or electronically deliver document packages to third party auditors, such as FNMA, FHLMC, TenA, Richey May
• Processes incoming Hazard Insurance mail and follow up as needed
• Maintains knowledge of all systems supporting the closing, shipping, delivery and purchase of loans.
• Develops and maintain good working relationships with internal and external customers, including but not limited to, Mortgage Loan Originators, Processors, Underwriters, Closers and external vendors, companies and investors.
• Maintains working knowledge of investor requirements and our loan origination system (Encompass)
• Assists team members as needed, during times of peak volume and staff absences.
• Possesses a willingness to assume additional responsibilities/duties/projects as they arise.

Requirements:

Required Qualifications/Skills:

• High school diploma or equivalent
• Proficient computer skills required; knowledge of Microsoft Office (Word, Excel and Outlook) and Internet Browsers.
• Ability to operate office equipment including computers, telephones, voice mail, copy machines and scanners
• Knowledge of modern office practices and procedures; accurate grammar, spelling, punctuation and Standard English usage; business correspondence formats, record keeping and filing methods; basic math calculations.
• Must possess good judgment and the ability to handle confidential information.
• Strong written, verbal and interpersonal communication skills and the ability to use e-mail, telephone, and other communication tools as necessary.
• Ability to independently plan, prioritize, organize and complete work in an efficient manner. Ability to work quickly and accurately. Attention to detail required.
• Ability to interpret and follow variety of instructions furnished in written, oral, diagram, or schedule form and complete assignments without detailed directions. Problem solving skills required
• Ability to maintain regular and punctual attendance
• Available to work overtime; if applicable
• Flexible attitude with ability to work under pressure
• Prolonged periods sitting at a desk and working on a computer

Desired Qualifications/ Skills:

• Prefer candidates with a minimum of 2 years prior banking/mortgage experience.
• Prior experience in exception clearing or processing and closing preferred
• Familiarity with all conventional and government loan origination and closing documents; experience working primarily in a paperless environment; knowledge performing MERS online system activities; and know-how with loan collateral delivery process
• Knowledge of loan origination systems, such as Encompass is preferred
• Understand that good working relationships are one of the keys to success in this organization.
• Individuals seeking a career with interest to grow and develop in the mortgage industry